Afternoon BTC Analysis: The morning bullish outlook was perfectly realized, target 114100 has been fulfilled. Currently, the 1-hour level is experiencing a continued five-wave decline, and we need to pay attention to the signal for the end of the fifth wave. A subsequent rebound to 114600 is expected, and if it breaks through, look for higher elasticity. Hold long positions until the 114600-114100 area to set up short positions, with targets of 113100-112600, closely following the market rhythm to add profits. Pay attention to the Jackson Hole meeting, Binance HODLer airdrop PLUME, and the dynamics of new Chinese crypto regulations.

BTC Analysis on August 20 Afternoon
The bullish outlook for Bitcoin this morning has paid off perfectly! The target of 114100 continues to be held; those who joined should secure the profits from this rebound and not waste this clear upward momentum!

Let's break down the current market structure and grasp the subsequent direction:

1-hour level: The five-wave downward structure is clear, and the fifth wave is still ongoing. It is important to note that only by breaking the peak of the previous wave can we consider this downward trend officially over;
After the downward segment ends, it is highly likely to move into an abc three-wave rebound. Today, we will first look for the continuation of the rebound, and afterward, we will enter a period of consolidation. After this consolidation, we will welcome further upward movement.

We should pay close attention to the breakout at 114600; if it can hold, we can look for even higher elasticity; the logic for holding long positions is clear now, just follow the rhythm and continue securing profits!
Bitcoin suggestion: Short between 114600-114100, target 113100-112600
$BTC

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